A. Cicchiello, Amirreza Kazemikhasragh, Anna Maria Fellegara, S. Monferrà
{"title":"Gender disparity effect among financially included (and excluded) women in Middle East and North Africa","authors":"A. Cicchiello, Amirreza Kazemikhasragh, Anna Maria Fellegara, S. Monferrà","doi":"10.17811/ebl.10.4.2021.342-348","DOIUrl":"https://doi.org/10.17811/ebl.10.4.2021.342-348","url":null,"abstract":"Gender in financial inclusion is an evolving field of research. This study uses the World Bank’s Global Findex database, along with probit models, to investigate the presence of gender inequality on financial inclusion and its causes. In the Middle East and North Africa samples, we present new evidence of lower women’s financial inclusion. Being a man, older, well-educated and with a high-income increases the likelihood of being financially included. The findings of this study support policymaker in defining policies to promote financial inclusion in the Middle East and North Africa. Increasing the level of financial inclusion enhances the level of official savings in countries, which in turn promotes development.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42331491","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Attenuating the school context increases students’ academic self-concept","authors":"Tamás Keller","doi":"10.17811/ebl.10.4.2021.416-423","DOIUrl":"https://doi.org/10.17811/ebl.10.4.2021.416-423","url":null,"abstract":"We show two examples of how attenuating school-context-generated automatic social comparison leads to an increase in students’ academic self-concept (ASC), which is known to regulate the effort students put into education. In Study 1, we exploited COVID-19 induced home-based education to find that students’ ASC in reading and writing increased outside the school context. In Study 2, we activated/attenuated the school context by different priming in a randomized survey experiment. Here, we found that students who first reported their ASC, and subsequently their grades, had higher ASC in reading (but not in writing) than those who first reported their grades. The results indicate that social comparison might indirectly harm students’ educational achievement and attainment via their ASC.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47850854","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An innovation adoption model of licensing-in for US start-ups","authors":"B. Power, G. Reid","doi":"10.17811/ebl.10.4.2021.369-382","DOIUrl":"https://doi.org/10.17811/ebl.10.4.2021.369-382","url":null,"abstract":"Using the Kauffman panel dataset of US start-ups, we analyse the key determinants oflicensing-in adoption. Licensing-in entails an intellectual property contract between the licensor(e.g. upstream established firm) and licensee (e.g. downstream start-up) aiming to bring aninnovation to market rapidly. Assuming maximizing of the owner’s managerial utility in thestart-up years, we explain licensing-in adoption through firm characteristics like size, R&D andcapital structure, as well as other IP types, and controls for year and regional fixed effects, usingpanel probit estimation with adjustments for sample selection bias and endogeneity. We findkey determinants of licensing-in to be owners’ equity, product (rather than service) sales andR&D spend; and then comment on their policy implications for business incubation.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42499082","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Luis Alberto Delgado-de-la-Garza, Gonzalo Adolfo Garza-Rodríguez, Daniel Alejandro Jacques-Osuna, Alejandro Múgica-Lara, C. A. Carrasco
{"title":"Does the use of a big data variable improve monetary policy estimates? Evidence from Mexico","authors":"Luis Alberto Delgado-de-la-Garza, Gonzalo Adolfo Garza-Rodríguez, Daniel Alejandro Jacques-Osuna, Alejandro Múgica-Lara, C. A. Carrasco","doi":"10.17811/ebl.10.4.2021.383-393","DOIUrl":"https://doi.org/10.17811/ebl.10.4.2021.383-393","url":null,"abstract":"We analyse the performance improvement on a monetary policy model of introducing non-conventional market attention (NCMA) indices generated using big data. To address this aim, we extracted top keywords by text mining Banco de Mexico’s minutes. Then, we used Google search information according to the top keywords and related queries to generate NCMA indices. Finally, we introduce as covariates the NCMA indices into a bivariate probit model of monetary policy and contrast several specifications to examine the improvement in the model estimates. Our results show evidence of the statistical significance of the NCMA indices where the expanded model performed better than models only including conventional economic and financial variables.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49595486","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The key role of quoted spreads in financial services and transactions","authors":"G. Peña","doi":"10.17811/ebl.10.3.2021.208-216","DOIUrl":"https://doi.org/10.17811/ebl.10.3.2021.208-216","url":null,"abstract":"Banking has driven the development of the world for centuries. An interesting issue to analyze is the optimal spread on financial products reflecting the value added that does not generate economic distortions for consumers in intertemporal decisions. Based on a gravity equation for these services, this paper examines the optimality of a modified Quoted Spread, the recently-proposed mobile-ratio, by assessing whether the pure interest expressed as a gravity equation between interests does not change after applying this spread. Results show that the mobile-ratio is the specification of the spread with no distortions on investment decisions. Regarding fiscal policy, this ratio plays a key role for both the Financial Transaction Tax and the VAT on financial services.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42169361","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Effect of macroeconomic variables on systemic risk: Evidence from Vietnamese economy","authors":"Thị Xuan Huong Tram, Nguyen Thanh Hoai","doi":"10.17811/ebl.10.3.2021.217-228","DOIUrl":"https://doi.org/10.17811/ebl.10.3.2021.217-228","url":null,"abstract":"This paper aims to find out the relationship between systemic risk in Vietnam and the effects of macroeconomic factors, including exchange rate, interest rates, and economic growth. We collect data from the Vietnamese stock market, specifically 29 listed financial firms (banks, insurance companies, and securities firms) for the period 2010-2018. The analysis is performed in two steps including systematic risk measurement in Vietnam based on the Systemic Expected Shortfall (SES) method and providing evidence from analysis related to the risk determinants assessment. Besides ordinary least squares (OLS) methods, we make use of fixed-effects (FEM) estimations, random-effects (REM) estimations, and system generalized method of moments (SGMM). The empirical evidence in this paper indicates that economic growth has a negative relationship on systemic risk in Vietnam while the exchange rate has a positive impact on systemic risk, and the interest rate has a negative relationship on systemic risk in Vietnam. Future studies can address the effects of interest rate on systemic risk during this period.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43160187","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Exchange rate pass-through: an analysis of a panel quantile regression","authors":"Yasemin Colak, L. Erden","doi":"10.17811/EBL.10.2.2021.148-156","DOIUrl":"https://doi.org/10.17811/EBL.10.2.2021.148-156","url":null,"abstract":"The purpose of this study is to examine the degree of exchange rate pass-through (ERPT) with the focus on Taylor (2000)’s hypothesis that asserts ERPT tends to be high (low) in high (low) inflation states. To this end, a panel quantile regression is applied to the data from 37 countries over the period of 1996-2018. The panel quantile regression allows us to capture the distributional heterogeneity in the ERPT coefficient and thus to directly address the question of whether the ERPT degree depends on the inflationary environment. The results indicate that ERPT is low (high) at low (high) quantiles of the inflation rate, supporting Taylor’s hypothesis. Keywords: Exchange rate pass-through, Taylor’s Hypothesis, Panel Quantile RegressionJEL Codes: C13, E31, F31","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42765982","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Growth and ideas in a perfectly competitive world: A complement","authors":"V. Boitier","doi":"10.17811/EBL.10.2.2021.157-163","DOIUrl":"https://doi.org/10.17811/EBL.10.2.2021.157-163","url":null,"abstract":"In this short article, I build an idea-based growth model with perfect competition in a representative household economy. I obtain significant findings that confirm Boitier (2019). First, a competitive equilibrium, increasing returns to scale, and innovations can be tenable. For that, firms must raise capital from shareholders, and the production function must show decreasing returns to scale in the stock of ideas and in labor. Second, the developed idea-based growth model admits a balanced growth path similar to the one provided in an idea-based growth model with monopolistic competition. Whether innovations are competitive or thrive under monopolistic competition does not constitute an engine-driving long-run growth. Importantly, this reconciles Romer (1990, 2015) with Boldrin and Levine (2008).","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48950430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Does a country’s income inequality affect its citizens’ quest for equality in leisure? Evidence from European men’s football","authors":"N. Scelles, A. François","doi":"10.17811/EBL.10.2.2021.133-139","DOIUrl":"https://doi.org/10.17811/EBL.10.2.2021.133-139","url":null,"abstract":"Does a country’s income inequality affect its citizens’ quest for equality in leisure? To answer this question, the letter investigates the impact of competitive balance on fan demand (stadium attendance) in European men’s football over the 2006-18 period, splitting leagues into groups depending on their country’s income inequality. Competitive balance has a significant negative impact on stadium attendance in countries with lowest income inequality and a significant positive impact in countries with highest income inequality and the whole sample. Findings suggest that, in leisure, European football fans look for the (in)equality their national economy does not offer.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42156276","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Farzan Yahya, A. Manan, Muhammad Wasim Jan Khan, M. S. Hashmi
{"title":"The moderating role of board gender diversity between power-based corporate governance and tax aggressiveness","authors":"Farzan Yahya, A. Manan, Muhammad Wasim Jan Khan, M. S. Hashmi","doi":"10.17811/EBL.10.2.2021.104-147","DOIUrl":"https://doi.org/10.17811/EBL.10.2.2021.104-147","url":null,"abstract":"The purpose of this study is to explore the moderating effect of board gender diversity on the relationship between power-based corporate governance (CEO power and concentrated ownership) and tax aggressiveness. The sample of this study is based on 2,071 firm-year observations over the period 2010 to 2018. We employed two-step GMM estimations to account for endogeneity and other statistical biases. The results show that CEO power increases the likelihood of tax aggressiveness while the link between the large controlling shareholders and tax-avoidance activities is not statistically significant. Lastly, the findings suggest that powerful CEOs manipulate female directors to promote tax aggressiveness behavior.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44882600","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}